Maybe it doesn't enter the zeitgeist, but this is different than a typical devaluation that is common in frequent flyer programs and (to a slightly lesser extent) credit card programs.

This is Chase marketing something as a marquee feature of a credit card and then less than half a year later secretly removed a marquee benefit without notice.

Every devaluation I've ever seen from Amex or Delta has been messaged extensively with months of lead time, often times more than a year. And I can't remember a marquee thing that was marketed as a core product feature that was then devalued less than half a year after launch.

A customer may get frustrated by a devaluation. But nothing frustrates a customer like a brand misleading them entirely - it violates trust in a way that pre-announced devaluations don't.

Will it end the CSR as a popular travel credit card? Of course not. Will it hurt Chase's brand reputation in a meaningful way for a subset of customers? Almost certainly.